The Reserve Bank of India has on November 25, 2009 cancelled the certificate of registration granted to Share & Care Resorts & Marketing (India) Limited having its registered office at 407, Hill View Industrial Estate, LBS Marg, Ghatkopar (West), Mumbai - 400 086 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution.

Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of a non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Ajit Prasad
Manager

Press Release : 2009-2010/1067